Sources with knowledge of the new project say that based on the manufacturing costs, the Nintendo Wii 2 could possibly have a retail price of anything between $350 and $400. They also said that the device would be shipping from Taiwanese manufacturer Foxconn in October this year.

This puts the retail release window somewhere between mid-October and early November. IGN also reports that the overall size of the Wii 2 will be comparable to that of the original Xbox 360 console, and that it could well resemble a modern version of the SNES (Super Nintendo Entertainment System).

It’s also been reported that the upcoming system would be based on a reworked version of AMD’s R700 GPU architecture, rather than AMD’s Fusion technology as previously reported. As for the name of the much-anticipated device, reports say that Nintendo is considering calling it Stream.

Tinaâ€™s passion is gaming news, but you will find her exploring other tech stories. Follow Tina for the latest happenings in the gaming world with popular gaming devices, including PS3, Xbox 360, Wii and portable gaming on iOS, PSP, DS and more.